Tether Reportedly Moves Its Reserves to Bahamas-based Deltec Bank

Tether is now holding its reserves at Deltec Bank. The bank has recently signed a deal with Tether, and many OTC trading desks are already willing to redeem USDT

Tue, 16/10/2018 - 17:43

Tether Reportedly Moves Its Reserves to Bahamas-based Deltec Bank

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According to a new report, Tether is now holding its reserves at Deltec Bank. The bank, which is based in the Caribbean, has recently signed a deal with Tether, and many OTC trading desks are already willing to redeem USDT directly by opening an account with Deltec Bank. Further details about Tether’s new cooperation are expected to be revealed in the nearest future.

As U.Today reported earlier, Noble International, which had been previously banking with Tether and Bitfinex, has lost its clients, currently looking for a new buyer. Meanwhile, USDT is struggling to regain stability after recently plunging to its 18-month low.

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Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.